Feb 09, 2023 Newsdesk Latest News, Macau, Top of the deck
Hong Kong-listed AGTech Holdings Ltd says it has a three-year “strategic agreement” with Galaxy ICC & Arena Ltd, a subsidiary of Macau casino operator Galaxy Entertainment Group Ltd, for organising cultural and entertainment-related activities in Macau. The arrangement includes also Beijing Damai Cultural Media Development Co Ltd and Alibaba Pictures Group Ltd, according to a Wednesday filing.
The Galaxy International Convention Center (pictured) – part of Phase 3 of the Galaxy Macau casino resort – is likely to be launched in stages starting this year. It includes the 16,000-seat, multipurpose Galaxy Arena, and 40,000 square metres (430,556 sq feet) of space for meetings, incentives, conferences and exhibitions (MICE) events.
The Galaxy Arena is set to host its first show in late April, followed by two concerts in May by South Korean girl group Blackpink.
AGTech – part of Alibaba Group Holding Ltd – is a supplier of technology and services to a number of industries, with a focus on the mainland China and Macau markets, according to its corporate website. The firm is engaged in electronic payment services, lottery, mobile games and entertainment and marketing technical services.
AGTech acquired last year Macau-based mobile payment provider, Macau Pass Holding Ltd.
Beijing Damai is described in the filing as a provider of services in the “live performance industry in China”, and Alibaba Pictures is identified as a supplier of an “Internet-driven integrated platform” serving the entertainment industry.
The agreement detailed in Wednesday’s filing covers the arrangement of live performances, concerts, immersive and interactive performances, music festivals, musicals, and theatrical performances in Macau.
The parties also agreed to collaborate on publicity and marketing services, and in establishing a system to provide sales support and management of the entertainment venue’s ticketing system.
The deal also envisions the organisation of exhibitions, awards ceremonies and a film festival in Macau.
The agreement covers the period from February 8, 2023 to February 7, 2026.
AGTech said however that the cooperation “will be subject to the entering into of any definitive cooperation agreement”, which is “subject to further negotiations among the parties”.
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